NICO Pension reaffirms company’s commitment to delivering customers needs despite economic turbulence times

The country’s leading pension service providers, NICO Pension has expressed that it is committed to providing the much required services in order to ensure the company meet clients needs all the time despite experiencing a period of economic turbulence.

The company emphasized the development at Sunbird Mount Soche Hotel in Blantyre where, in collaboration with NICO Life and NICO Asset Managers hosted its Annual Client Engagement Seminar which was under the theme: ‘Building Resilience in Turbulent Times’, where it convened key stakeholders and thought leaders from the financial, regulatory, psychological spheres to engage in meaningful dialogue around long-term financial planning in an economically challenging environment.

Delivering his keynote address, NICO Pension, Chief Executive Officer, Gerald Chima reaffirmed the Group’s commitment to delivering performance and trust for its clients, even during periods of economic turbulence.

Chima admitted that they decided to come up with the theme considering the huge impact being experienced due to the turbulent period and thought it wise to use the seminar by discussing on how they can manage the situation.

“As you’ve seen, the levels of inflation we are running with as a country, it directly impacts the pension funds that we manage and clients normally ask whether their pension funds are really preserved in terms of value.

“So, referring to the returns which are 38.08% and 49%, are both well above inflation and this means we have essentially posted return that has not just preserved the value of the pension funds but we have also achieved real growth which is huge for us,” said Chima.

He added that the 2024 investment return delivered through Guaranteed Ufulu Unrestricted Fund and Timasuke Unrestricted Fund reflects the company’s consistent focus on resilient strategies and prudent investment vehicles to safeguard members’ futures.

Chima further challenged that the company will continue to position itself not just as administrators of pensions, but as custodian of its clients’ futures because their mission is to ensure that a dignified retirement is not a luxury but a standard.

The seminar’s panel discussion which was titled ‘What Retirement Looks Like in a Shifting World’ featured perspectives on emotional resilience, economic volatility, and retirement preparedness.

One of the standout voices, Jimmy Lipunga, former Chief Executive Officer of the Public Private Partnership Commission and current board chair for National Bank and Illovo Sugar, now a seasoned retiree with firsthand insight into the journey of retirement planning said;

“Retirement is not just a financial milestone, it’s an emotional reckoning.

 “What helped me most was planning early and choosing to forgo instant gratification for long-term comfort. The sooner we normalize that mindset, the better off our future retirees will be.”

Other panellists included psychologist Dr. Michelle Nkhalamba, who added strategic and consumer oriented perspectives on navigating retirement under economic pressure with behavioural and psychological considerations.

The event served as a reaffirmation of the NICO Group’s role as a one-stop financial hypermarket offering annuities, preservation funds, occupational pension funds, voluntary personal and provident funds and asset management solutions all tailored for a more resilient retirement experience.